If you have been waiting for an opportunity to buy into AMZN, it may be just around the corner. The stock has been consolidating for some time into an ever-tightening triangular range with a recent attempt at breaking to the upside. If it closes above the trend line, I have marked possible price targets for the next 12-18 months.
Trade active:
The next stop will be 2000/2050 with some resistance around the 1950 area. Again as in my other posts, use caution over the next few weeks to protect profit/capital with news coming from Iran/Iraq. Even with a pullback to 1821 (which is unlikely) more likely 1870, earnings for this lastest holiday season is coming up, and you want to hold for that trust me.